PJT Partners Inc. (NYSE:PJT) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 35.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,342 shares of the financial services provider's stock after selling 3,538 shares during the period. Verition Fund Management LLC's holdings in PJT Partners were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PJT. Champlain Investment Partners LLC boosted its position in PJT Partners by 7.4% during the third quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider's stock valued at $79,252,000 after purchasing an additional 41,119 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PJT Partners by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock valued at $49,446,000 after buying an additional 22,117 shares in the last quarter. FMR LLC boosted its stake in PJT Partners by 10.9% in the third quarter. FMR LLC now owns 417,271 shares of the financial services provider's stock valued at $55,639,000 after acquiring an additional 41,007 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of PJT Partners by 29.6% during the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider's stock valued at $42,399,000 after purchasing an additional 72,582 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in PJT Partners by 3.1% in the third quarter. Rockefeller Capital Management L.P. now owns 300,964 shares of the financial services provider's stock worth $40,119,000 after acquiring an additional 8,953 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PJT. JMP Securities upped their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $175.00 in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $134.80.

Insider Transactions at PJT Partners

In related news, Director James Costos sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, the director now directly owns 9,360 shares of the company's stock, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the transaction, the director now directly owns 9,100 shares of the company's stock, valued at $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock worth $762,980 over the last quarter. 11.71% of the stock is currently owned by insiders.

PJT Partners Price Performance

NYSE:PJT traded down $0.26 during midday trading on Tuesday, hitting $158.45. The company's stock had a trading volume of 171,612 shares, compared to its average volume of 232,895. PJT Partners Inc. has a fifty-two week low of $88.51 and a fifty-two week high of $168.92. The firm has a market cap of $3.76 billion, a P/E ratio of 40.22 and a beta of 0.65. The firm's 50 day moving average is $151.29 and its 200-day moving average is $129.51.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The business's quarterly revenue was up 17.2% compared to the same quarter last year. As a group, analysts forecast that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. PJT Partners's dividend payout ratio (DPR) is presently 25.38%.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.